OK, so I've been reading a lot of hand wringing and nonsense lately (USA Today, CNN, CNBC, etc.) about how 1/3 of U.S. wages are now "welfare programs" including Social Security (when is Social Security welfare?) So I decided to see where this research came from and it was from this group:
http://www.trimtabs.com/global/company.htm Here is an example of one of these articles:
http://www.dailymail.co.uk/news/article-1364450/US-welfare-nation-Government-handouts-make-ONE-THIRD-salaries.htmlCan someone please explain to me who understands finance:
1. What does this company, TrimTabs do?
2. What might be their interest in bad mouthing Social Security and other social programs?
3. Why the fuckety fuck do media companies give a shit what their research says...how are they even credible economists to comment?
Thanks!
Update: Trudy Lieberman of Columbia Journalism Review Points out the factual errors and bias in this article:
http://www.cjr.org/the_audit/cnbc_misleads_on_welfare_state_1.phpUnfortunately, this will still be shouted from the rooftops by very concerned Republicans for years to come.